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Revoltella, DWruuck, P (2020). Investing for a Greener, Competitive and Socially Inclusive Europe. Vierteljahrshefte zur Wirtschaftsforschung, 89(3), 51-59. https://doi.org/10.3790/vjh.89.3.51
Revoltella, Debora Wruuck, PatriciaRevoltella, Debora Wruuck, Patricia (2020). "Investing for a Greener, Competitive and Socially Inclusive Europe" Vierteljahrshefte zur Wirtschaftsforschung, vol. 89no. 3, 2020 pp. 51-59. https://doi.org/10.3790/vjh.89.3.51
Revoltella, DWruuck, P (2020). Investing for a Greener, Competitive and Socially Inclusive Europe. Vierteljahrshefte zur Wirtschaftsforschung, Vol. 89 (Issue 3), pp 51-59. https://doi.org/10.3790/vjh.89.3.51

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Investing for a Greener, Competitive and Socially Inclusive Europe

Revoltella, Debora | Wruuck, Patricia

Vierteljahrshefte zur Wirtschaftsforschung, Vol. 89 (2020), Iss. 3 : pp. 51–59

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Debora Revoltella, European Investment Bank

  • Debora Revoltella is Director of the EIB’s Economics Department. The department comprises 40 economists and provides economic analysis and studies to support the bank in defining its policies and strategies. Debora holds a PhD in Economics. She is a member of the Steering Committees of the Vienna Initiative and the CompNet, and a member of the Boards of the Joint Vienna Institute, the SUERF and the Euro 50 Group.
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Patricia Wruuck, European Investment Bank

  • Patricia Wruuck is an Economist in the Economics Department of the European Investment Bank. She contributes to EIB publications such as the EIB Investment Report and EIB working Papers. Her research interests are in European policy, political economy, trade and human capital development. Patricia holds a Master from Freie Universität Berlin and a doctoral degree from Mannheim University.
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References

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Abstract

Summary: Development banks are there for good times as well as bad times. They promote structural changes in economies, addressing longer-term challenges. They complement financial systems, helping to improve the functioning of banking and financial markets and bolstering economic resilience. They mitigate market failure, but can also help to identify it, contributing to the design of effective policy. Moreover, development banks can help to create and shape markets, such as the green bonds market. In doing so, they catalyse structural economic transformation and spur investment-led growth. For the post-Covid-19 world, Europe needs structural transformation to address the challenges of rapid technological change and stiffer global competition, growing threats to social cohesion and, not least, climate change. In this article, with a focus on the role of the EIB, we discuss three main questions: What is the rationale for development banks? What is the EIB’s unique position within the European development banking landscape? And how is the EIB helping to address the key challenges that Europe is currently facing, boosting recovery from the historic Covid-19 shock to create a more competitive, inclusive and greener economy in Europe?